IdeaPaint, a Cambridge, Mass.-based producer of innovative dry-erase coatings that can transform smooth surfaces into durable dry-erase canvases, secured $3.3m in a second round of venture financing.
The company had raised $5m from Breakaway Ventures in 2008.
Todd Krasnow, the founding chief marketing officer of Staples, Inc., and currently the marketing domain expert for a large, Boston-area venture capital firm, participated in the funding round as an investor and has also joined the company’s board of directors.
As stated by Bob Munroe, president of IdeaPaint, these additional funds will enable the company to fully take advantage of the many opportunities available.
IdeaPaint produces innovative dry-erase coatings that can transform smooth surfaces into durable dry-erase canvases. Its commercial-grade product IdeaPaint PRO has seen wide adoption in corporate and education environments—as a replacement for whiteboards and chalkboards and as a collaboration tool.